Payment System Operators — Rwanda

The Rwanda category mapped to payment switching.

The BNR Licensed Institutions register carries a 'Payment System Operators' section (RSwitch Limited) under Law N° 061/2021 of 14/10/2021 governing payment systems - CORRECTING the earlier research finding of 'no switching category in Rwanda' (which considered Regulation 74/2023 alone). Operate-a-payment-system definition is infrastructure-only -> single-mapped to SWITCHING (same statutory operator-vs-provider split as UG/ZM).

Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-24 · unchanged since the previous check.

Source recency: National Bank of Rwanda's official list is dated 2025-11 — the most recent official publication; verify current status directly with National Bank of Rwanda. Entries below are as reported by that list — not a statement of current status.

Licensed providers

1 entity

#	Provider	Status (as reported)	Source	Source date
1	RSwitch Limited	licensed	National Bank of Rwanda	2025-11

Licence requirements

What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.

Requirement	As published	Source	Source date
Minimum capital	FRW 500,000,000 (a designated payment system under Reg 75/2023 Art 18 — higher than any Reg 74 PSP category) Verbatim “The designated payment system holds a minimum paid up cash capital of not less than FRW 500,000,000.”	Regulation N° 75/2023 of 18/09/2023 on payment systems (same Gazette n° 38 Bis) — for the switch/PSO capital	2023-09-25
Local presence / incorporation	A value has been located but not yet verified, so we don't publish it here.	—	—
Timeline	A value has been located but not yet verified, so we don't publish it here.	—	—
Local ownership	No such requirement: No local-shareholding % found	Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023)	2023-09-25
Fees	A value has been located but not yet verified, so we don't publish it here.	—	—
Ongoing obligations	Maintain FRW 500m capital "unimpaired by losses … at all times"; default/insolvency + outsourcing risk arrangements Verbatim “The designated payment system shall demonstrate the ability to maintain its capital funds, unimpaired by losses at the prescribed minimum amount at all times.”	Regulation N° 75/2023 of 18/09/2023 on payment systems (same Gazette n° 38 Bis) — for the switch/PSO capital	2023-09-25

Requirements as published in the cited instruments — not legal or compliance advice. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.

The equivalent in other markets

Categories mapped to the same normalized activity — fintech:SWITCHING:

Cross-border rules for Rwanda →